<p>Mumbai: Stock <a href="https://www.deccanherald.com/markets-business">markets </a>rose sharply on Monday, with Sensex closing higher by 676 points and Nifty climbing 1 per cent on heavy buying in auto and consumer durables stocks, buoyed by plans for big bang reforms in the GST regime by Diwali.</p>.<p>The 30-share BSE Sensex jumped 676.09 points or 0.84 per cent to settle at 81,273.75. During the day, it zoomed by 1,168.11 points or 1.44 per cent to 81,765.77.</p>.<p>The 50-share NSE Nifty climbed 245.65 points or 1 per cent to end at 24,876.95. Intra-day, it surged 390.7 points or 1.58 per cent to 25,022.</p>.<p>Global rating agency S&P upgrading India's sovereign credit rating also boosted the sentiment, analysts said.</p>.<p>Among Sensex firms, Maruti zoomed the most by 8.94 per cent. Bajaj Finance, UltraTech Cement, Bajaj Finserv, Mahindra & Mahindra, Hindustan Unilever and Trent were among other major gainers from the pack.</p>.<p>However, ITC, Eternal, Tech Mahindra and Larsen & Toubro declined.</p>.<p>Auto stocks were in high demand, with Hyundai Motor India jumping 8.45 per cent. The BSE auto index jumped 4.26 per cent to 56,233.33.</p>.<p>The Centre has proposed a 2-tier GST structure of 5 per cent and 18 per cent, besides a 40 per cent special rate on a select few items to the GoM on GST rate rationalisation.</p>.<p>The proposal, which entails removing the current 12 and 28 per cent tax slabs, will be discussed at the two-day meeting of the state ministerial panel on August 20 and 21 in the national capital, according to sources.</p>.<p>Prime Minister Narendra Modi had announced the proposal to reform the GST law in his Independence Day speech on August 15 from the ramparts of the Red Fort.</p>.<p>In Asian markets, Japan's Nikkei 225 index and Shanghai's SSE Composite index settled in positive territory while South Korea's Kospi and Hong Kong's Hang Seng ended lower.</p>.<p>European markets were trading in negative territory.</p>.<p>The US markets ended mostly lower on Friday.</p>.<p>Global oil benchmark Brent crude climbed 0.62 per cent up to USD 66.25 a barrel.</p>.<p>Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,926.76 crore on Thursday, according to exchange data.</p>.<p>On Thursday, the Sensex climbed 57.75 points or 0.07 per cent to settle at 80,597.66. The Nifty rose by 11.95 points or 0.05 per cent to 24,631.30.</p>.<p>Equity markets were closed on Friday for Independence Day. </p>
<p>Mumbai: Stock <a href="https://www.deccanherald.com/markets-business">markets </a>rose sharply on Monday, with Sensex closing higher by 676 points and Nifty climbing 1 per cent on heavy buying in auto and consumer durables stocks, buoyed by plans for big bang reforms in the GST regime by Diwali.</p>.<p>The 30-share BSE Sensex jumped 676.09 points or 0.84 per cent to settle at 81,273.75. During the day, it zoomed by 1,168.11 points or 1.44 per cent to 81,765.77.</p>.<p>The 50-share NSE Nifty climbed 245.65 points or 1 per cent to end at 24,876.95. Intra-day, it surged 390.7 points or 1.58 per cent to 25,022.</p>.<p>Global rating agency S&P upgrading India's sovereign credit rating also boosted the sentiment, analysts said.</p>.<p>Among Sensex firms, Maruti zoomed the most by 8.94 per cent. Bajaj Finance, UltraTech Cement, Bajaj Finserv, Mahindra & Mahindra, Hindustan Unilever and Trent were among other major gainers from the pack.</p>.<p>However, ITC, Eternal, Tech Mahindra and Larsen & Toubro declined.</p>.<p>Auto stocks were in high demand, with Hyundai Motor India jumping 8.45 per cent. The BSE auto index jumped 4.26 per cent to 56,233.33.</p>.<p>The Centre has proposed a 2-tier GST structure of 5 per cent and 18 per cent, besides a 40 per cent special rate on a select few items to the GoM on GST rate rationalisation.</p>.<p>The proposal, which entails removing the current 12 and 28 per cent tax slabs, will be discussed at the two-day meeting of the state ministerial panel on August 20 and 21 in the national capital, according to sources.</p>.<p>Prime Minister Narendra Modi had announced the proposal to reform the GST law in his Independence Day speech on August 15 from the ramparts of the Red Fort.</p>.<p>In Asian markets, Japan's Nikkei 225 index and Shanghai's SSE Composite index settled in positive territory while South Korea's Kospi and Hong Kong's Hang Seng ended lower.</p>.<p>European markets were trading in negative territory.</p>.<p>The US markets ended mostly lower on Friday.</p>.<p>Global oil benchmark Brent crude climbed 0.62 per cent up to USD 66.25 a barrel.</p>.<p>Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,926.76 crore on Thursday, according to exchange data.</p>.<p>On Thursday, the Sensex climbed 57.75 points or 0.07 per cent to settle at 80,597.66. The Nifty rose by 11.95 points or 0.05 per cent to 24,631.30.</p>.<p>Equity markets were closed on Friday for Independence Day. </p>